Posted on 12/29/2022 7:22:26 AM PST by Bon of Babble
As long has tax payers have two pennies to rub together their is still one the government can take. And for them, better make it both. That retired school administrator pulling in half a million a year pension can’t possibly live on less.
From what I read about NJ in another article, I calculated that NJ would need to impose a 25% income tax on everyone in NJ to make up the state pension shortfall, and that would be on top of what they already pay. Needless to say, that is not going to happen. If I were a public employee in NJ, I’d be worrying about how I was going to support myself once the pension system collapses.
“Public Employees aren’t known to be productive.”
That’s certainly part of the equation but not one that’s going to change.
It’s both, what you wrote and what I wrote.
...that said, makes one wonder about the true intention of....the "vax"
('boomer time bomb?)
-OR-
What our global "overlords" intend to do with...the "dollar"
(destroy it for digital currency...easier manipulation/fraud...kind of like "the vote").
Awww. Chickens coming home to roost is always so satisfying.
That’s gotta sack.
> have poured billions of dollars into their states’ pension funds.”
There are many more billion$ that still need to be poured into that jar with no bottom.
Sad to say...but I’m all out F#@k$.
States make bad decisions, and then look to the rest of the U.S. for a bail out. It’s past time for people to sleep in the bed they made.
California has a huge budget surplus. Instead of giving out guaranteed income. Save it for retirement earned benefits.
Its only been one year.
21 months.
We need an ironclad federal law passed which makes it illegal for the federal government to bail out any state.
You just KNOW the likes of California, Illinois, New York, New Jersey, etc are going to try to stick their greedy paws into taxpayers wallets in other states to pay for their over generous pension promises made to public sector labor unions.
One year and nine months since the federal bill was passed. It has to flow through the federal bureaucracy and then go to the State Legislatures. Then the Governors had to sign the bill into law.
The federal government will bail the blue states out if the Democrats keep stealing elections. Uncle Sam will just make money out of thin air if they can’t extort enough tax money from working Americans. But the party won’t go on forever. Hyperinflation is our future if things stay the same. Other countries will be forced to dump the dollar as the world’s reserve currency.
“Cold Fusion” is an excellent video series about economic policy. It’s available for free on YouTube. It’s cool, level headed, and doesn’t go down any Alex Jones/doomsday cult rabbit holes. Nor is it politically biased in any way than I’ve noticed. It logically explains why all “fiat currencies” (including our own Federal Reserve notes) eventually lose value, until they’re worthless.
There sould be no “entitlements”.
Unfortunately it is already there for the asking:
Central States Pension gets federal help
PBGC - Pension Benefits Guaranty Corporation
They give out cash so the pension funds don't have to reduce benefits
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